Tsodilo Resources Ltd (CVE:TSD) unveiled the latest grade and valuation analysis from a parcel of diamonds from its BK16 kimberlite project in Botswana, which it says, indicates that the project deserves further work.
The stones are a 77.94-carat parcel of 502 commercial-size (greater than one millimetre) diamonds, recovered from large diameter drilling from four kimberlite units in the Orapa kimberlite field.
BK 16 lies within the famous Orapa kimberlite cluster, one of the most prolific diamond-producing areas in the world.
The modelled average price range from a high of US$710 to US$386 per carat, the company said.
The five highest diamonds by value ranged from 0.965 carats to 1.935 carats with a total weight of 7.22 carats and have an average price valuation of US$612.85 per carat, said Tsodilo.
Meanwhile, the modelled average grade ranges from a high of 11 cpht (carats per hundred tons) to 8 cpht, the firm said.
It added that 3.8% of the diamonds tested were identified as Type IIa diamonds consisting mainly of D colour stones.
The size frequency distribution study demonstrated the presence of large stones, indicating that 8.0% may be greater than 10.8 carats, and 0.5% could be greater than 100 carats.
A phase 2 bulk sampling is now being planned, the company added.
"The promising modelled SFD grade and value indicates that BK16 deserves further work because BK16 could also be a high-value diamond producer like AK6 (Karowe mine)," said Dr
Michiel de Wit, Tsodilo's president and chief operating officer (COO).
Shares in Tsodilo were unchanged on the day at $0.325.
Reporting by Giles Gwinnett